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Findings from the study include:

  • Approximately half of adults are not saving for retirement (48%). However, those that are saving are most likely contributing to a 401(k) (62%) or savings account (53%).
  • Half of adults (50%) think that saving for retirement is straightforward compared to just 1 in 4 (26%) who think saving for retirement is too complicated.
  • However, of the words tested, adults are most likely to say “essential” (49%), “overwhelming” (33%) and “complicated” (25%) describe saving for retirement.
  • Young (18-34) and middle aged (35-44) adults are more likely than their older counterparts to say saving for retirement is too complicated.
  • Half of adults say they are satisfied with the retirement savings plans available to them (55%), though only 2 in 5 (38%) say their employer offers a retirement savings account to employees.
  • 2 in 3 adults do not receive retirement saving advice from a financial professional.
  • Of those who are not utilizing a financial professional, over half they say they think they would benefit from receiving retirement saving advice (54%).
  • Young (18-34) and middle aged (35-44) adults are more likely than their older counterparts to think they would benefit from receiving retirement advice from a financial professional.

Read the survey report

Young (18-34) and middle aged (35-44) adults are more likely than their older counterparts to say saving for retirement is too complicated.